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Do i include hst when i enter business expenses? or does turbotax adjust and remove the hst portion automatically?

For example, when I enter expenses for office supplies, should I include HST paid in the total expense entered into Turbotax?


Thank you!

Patrick

1 Best answer

Accepted Solutions

Do i include hst when i enter business expenses? or does turbotax adjust and remove the hst portion automatically?

If you are registered for HST, you would leave it out of the income and expense, as it is reported elsewhere.  If you are not registered, and cannot claim it, you would include it in the expenses.

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3 Replies

Do i include hst when i enter business expenses? or does turbotax adjust and remove the hst portion automatically?

If you are registered for HST, you would leave it out of the income and expense, as it is reported elsewhere.  If you are not registered, and cannot claim it, you would include it in the expenses.

PEL2
New Member

Do i include hst when i enter business expenses? or does turbotax adjust and remove the hst portion automatically?

Ok for not registered.

What does 'it' mean?

Example for $1000.00 fuel payed:

Under "GST taxable", do I enter the GST tax payed or the total amount payed for fuel?

Under "HST taxable", do I enter the HST tax payed or the total amount payed for fuel?

What do I enter for "Zero rated & exempt" for this example?

Is the ideal to calculate the GST and HST totals from each receipt?

Do i include hst when i enter business expenses? or does turbotax adjust and remove the hst portion automatically?

If you aren't registered you don't enter anything there. It will just go in as income with your total amount including taxes.

 

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